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Electricity to cost 9.6% more from 1 April
Electricity tariffs will increase by 9.6% from 1 April for Eskom customers and from 1 July for municipal customers. Eskom had initially applied to the National Energy Regulator of South Africa (Nersa) for a 20.5% tariff increase last year.
Source: www.unsplash.com
Nersa had to make its decision on Eskom's application by 25 February, the High Court ruled late last year, following a dispute between the two parties.
In response to Nersa's decision, Calib Cassim, Eskom’s chief financial officer, said: "The financial implications of this decision on Eskom’s long-term sustainability will need to be further understood. It is understood that Nersa considered the impact on consumers and the financial sustainability of Eskom as it made its decision".
[WATCH] NERSA has granted Eskom a 9.61% tariff hike for the 2022-2023 financial year. Eskom had applied for a 20.5% increase but after a legal battle, it was turned down. #Newzroom405's @tumisangndlovu unpacks the decision. pic.twitter.com/936rq21GPq
— Newzroom Afrika (@Newzroom405) February 24, 2022
He said the Eskom board will "deliberate further before deciding on how to sustainably provide electricity to the extent possible in the context of this revenue decision".
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